Executive Summary In 2025, the U.S. regulatory landscape for digital assets underwent a profound transformation as the Securities and Exchange Commission (SEC) pivoted from a “regulation by enforcement” strategy to a structured, disclosure-based framework known as “Project Crypto.” Led by Chairman Paul S. Atkins, the SEC reinterpreted federal securities laws to adapt to decentralised ledger technology (DLT), aiming to balance capital formation with investor protection. This s

Executive Summary Substantive structural developments across multiple jurisdictions characterised the regulatory landscape for the week ending 21 November 2025. In the United Kingdom, the Financial Conduct Authority (FCA) has launched a consultation on the 2026/27 fee structure, while HM Treasury has formally signalled the transition to a T+1 settlement cycle by October 2027. Concurrently, the European Union is advancing a comprehensive reform of the Sustainable Finance Discl

Executive Summary The global regulatory framework for digital assets and blockchain technology has reached a key milestone during the reporting period ending 22 November 2025. We are witnessing a clear shift from the initial "framework design" stage—marked by high-level principles and legislative discussions—towards a detailed, operational "infrastructure enforcement" stage. This shift is demonstrated by regulators engaging directly with the technical stack, focusing on speci

1. Executive Summary: The Quantifiable “Cost of Legitimacy” and Market Consolidation This reporting period introduced several regulatory developments with substantial implications for CASP operational models and capital planning. The common theme is a rise in the measurable “Cost of Legitimacy,” as illustrated by the prudential requirements outlined in the Bank of England’s (BoE) consultation on systemic stablecoins. The proposal for a 40% unremunerated reserve requirement

Executive Summary This week’s regulatory publications indicate several high-priority areas for risk, compliance, and legal functions. The Financial Conduct Authority (FCA) has issued direct warnings on firm conduct, M&A governance, and consumer protection, signalling a clear supervisory and enforcement focus. Key considerations arising this week include: M&A Governance and Integration:  The FCA’s multi-firm review of wealth sector consolidation criticises weak due diligence,

1. Executive Summary: Key Themes Three critical developments dominated this week’s regulatory landscape: AML Supervisory Consolidation:  HM Treasury confirmed a significant reform of the UK’s AML/CTF supervisory architecture. The decision to consolidate supervision of the legal, accountancy, and TCSP sectors under a new Single Professional Services Supervisor (SPSS) role, to be fulfilled by the FCA, will replace the existing 22 Professional Body Supervisors (PBSs). Affected f

1. Executive Summary This report provides a technical analysis of significant regulatory developments for the week ending 17 October 2025, focusing on the key risk and compliance considerations for UK and EU financial services firms. Three dominant themes have emerged: the regulatory response to technological innovation, a continued drive towards enhancing operational and digital resilience, and significant structural reforms to UK market frameworks. The Bank of England’s str

Executive Summary This week’s regulatory landscape was driven by three dominant themes: the deepening focus on Artificial Intelligence...

Executive Summary The UK is shifting towards bilateralism, forming tailored financial agreements with key non-EU partners. The...

Executive Summary The EU’s MiCA Regulation, effective from December 30 2024, marks a milestone in creating a unified legal framework for...

Executive Summary This week's regulatory developments emphasise a continued focus on strong governance frameworks, the implementation of...

1. Executive Summary On September 2, 2025, HM Treasury published a draft Statutory Instrument (SI) proposing key amendments to the UK's...

Executive Summary The FCA has published a new IFPR Newsletter. Key points include the mandatory and immediate notification of changes to...

1.0 Executive Summary The FMLC, while supporting the initiative to regulate cryptoassets, identifies material legal uncertainties and...

Executive Summary This week's principal developments include a strategic rationalisatio n of the FCA's supervisory communication...

Recent policy amendments by the United Kingdom's Financial Conduct Authority (FCA) and the United States' Securities and Exchange...

Executive Summary This week's key regulatory developments demand immediate attention from risk and compliance functions, with significant...

1.0 Executive Summary On 1 August 2025, the UK's Financial Conduct Authority (FCA) announced a significant policy reversal, permitting...

Executive Summary This week's key regulatory updates show increased focus on consumer protection, operational resilience, and new...

1.0 Executive Summary This report provides a formal assessment by the European Systemic Risk Board (ESRB) concerning the level of...